M&S opts for discounting

Marks & Spencer on Sunday launched itw biggest sales drive in its 120-year history in an attempt to lure shoppers from high-street rivals and kickstart a critical year for Stuart Rose, the chief executive.

M&S is widely thought to have endured dismal trading in the past few weeks, with one retail analyst suggesting like-for-like sales at the company have declined by at least 10 per cent in December. The sale will include some of the company's top clothing lines, such as Per Una and Limited Collection, and follows two one-off discount days held in recent weeks.